Unity Software (NYSE:U) Price Target Raised to $48.00

Unity Software (NYSE:U) had its target price raised by Citigroup from $40.00 to $48.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Wedbush raised their price target on shares of Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Oppenheimer increased their price objective on Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Zacks Research upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft raised Unity Software from a “hold” rating to a “buy” rating and upped their price target for the company from $31.00 to $50.00 in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Trading Up 1.0%

Shares of NYSE U opened at $44.33 on Monday. Unity Software has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a market cap of $19.51 billion, a PE ratio of -32.60, a P/E/G ratio of 3.00 and a beta of 2.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $30.92 and a two-hundred day moving average of $26.62.

Insider Activity

In other news, CAO Mark Barrysmith sold 13,247 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the transaction, the chief accounting officer directly owned 370,654 shares in the company, valued at $10,074,375.72. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of Unity Software stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the sale, the chief executive officer directly owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 198,321 shares of company stock worth $5,390,783. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in U. Wellington Management Group LLP boosted its position in shares of Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Norges Bank bought a new stake in shares of Unity Software in the 4th quarter valued at $230,285,000. Renaissance Technologies LLC acquired a new stake in Unity Software during the 1st quarter worth $54,534,000. Duquesne Family Office LLC acquired a new stake in Unity Software during the 2nd quarter worth $42,932,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Unity Software by 52.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after acquiring an additional 1,465,962 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.